It hurts... share price down 50% over the past several months, then management raise 25% of the companies value for a drill at pine ridge... thats a lot of pressure on management to find enough value to reflect 25% dilution in this next drill... personally I think they should have waited to see what happens with the fall out of the increasing interest rates on top of super high debt in global economy ... Gold and Silver are set for rerate, we could have “potentially” been raising significantly more money in a better climate.
Will shareholders front up more money? Will the pine ridge add value through more resources? If it doesn’t do they do another CR at a lower price? They better be right on this move, raising significant amount of money after a 50% share price drop is really game, the HotCopper forum was mostly positive while they were waiting this season out... why risk a back lash of investor anger over the “potential” significant loss 25% through dilution.
Let’s hope the drill campaign is a screaming success!!!
ARD Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
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